In Mexico, tokenizing an asset follows two clear paths: if the token represents a security (debt or equity), it falls under the Securities Market Law supervised by the CNBV; if it represents non-financial assets — real estate, art, commodities — it is structured under private law, typically with a fideicomiso. There is no specific tokenization statute yet, but there is a regulated ecosystem to operate in seriously.
The framework: Fintech Law and CNBV
The Fintech Law (2018, with a reform published in November 2025) created the ITFs and the CNBV-run regulatory sandbox, which allows innovative models — tokenization included — to be tested in a controlled environment. Electronic payment institutions must keep user funds segregated, typically in bank trust accounts: estate segregation is part of the systems DNA.
Tokenized securities: the CNBV route
Tokenizing debt or equity securities falls under the Securities Market Law: authorisation, disclosure, solvency and investor protection. It is the functional equivalent of the European principle we explain for Spain — same instrument, same rules, whatever the registry technology.
Non-financial assets: fideicomiso country
For real estate, art or commodities there is no specific tokenization regulation: serious projects are structured through the fideicomiso — autonomous estate, regulated trustee, beneficiary rights fractionable into tokens — complying with civil, tax and AML rules. With «fideicomiso» searched 27,000 times a month in Mexico, the figure is not exotic: it is the cultural standard of structuring.
How we work with Mexican issuers
Infrastructure and method from Spain, local counsel for the Mexican layer: asset classification, vehicle (fideicomiso or securities issuance), token standard with transfer restrictions and segregated custody — the usual seven layers. The regional map is in asset tokenization in Latin America.
Framework as of mid-2026; the fintech reform is still evolving. A project in Mexico? Talk to us.